Market Update

The British prime minister sketched an economic vision for the U. K., but he avoided mentions to the fuel crisis and food shortages the country has suffered from during recent weeks.Boris Johnson vowed that Britain would not return to the “broken model” of the past. He also vowed on Wednesday …

U.S. stock indexes fell on Wednesday shortly after strong private jobs in September was announced. The ADP National Employment Report showed private payrolls increased by 568,000 jobs last month. Economists polled by Reuters had forecast a rise of 428,000 jobs.The jobs data fueled investors’ concerns that the U. S. Fed …

The NZD/USD pair slid Wednesday to 0.0052 -0.75% despite the Reserve Bank of New Zealand lifted its benchmark rate to 0.5% from a record-low 0.25% and signaled more increases over the next year, as it seeks to tame inflation stoked by higher oil prices, rising transport costs and supply-chain disruptions. …

U.S. crude oil and gasoline inventories rose last week as production rebounded as more offshore oil facilities returned from last month’s storm-related shut-ins, the Energy Information Administration said on Wednesday.Crude inventories (USOILC=ECI) rose by 2.3 million barrels in the week to Oct. 1 to 420.9 million barrels, compared with analysts’ …

U.S. West Texas Intermediate crude oil futures are trading a little better Wednesday after hitting its highest level since 2014 the previous session. Global concerns about energy supply on signs of tightness in crude, natural gas and coal markets still persist.At 05:26 GMT, December WTI crude oil is trading $78.79, …

Wall Street’s main indexes opened lower on Wednesday after rising oil prices fueled inflation fears, while a survey showing a strong rise in private-sector jobs last month fueled concern that monetary stimulus would be scaled back sooner than expected. The Dow Jones Industrial Average fell 115.71 points, or 0.34 percent, …

Employment in the US’ private sector rose by 568,000 in September, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday. This reading came in stronger than the market expectation for an increase of 428,000. Meanwhile, August’s print got revised down to 340,000 from 374,000.

The Iraqi Oil Minister said that the price of oil between 75 and 80 dollars per barrel is a fair price for producers and consumers, adding that his country seeks to raise its production and export capacity in the coming years. Oil prices topped $83 a barrel on Wednesday, their …

The dollar rose on Wednesday, on concern that higher energy prices would spur inflation and raise interest rates, as traders awaited US jobs data for clues about the timing of the Federal Reserve’s tightening of policy. The New Zealand dollar fell 0.9% to $0.6891, and the Australian dollar fell 0.7% …

As expected, the Reserve Bank of Australia (RBA), at its October meeting, decided to maintain the cash rate target at 0.10% and the interest rate on Exchange Settlement balances of 0%; maintain the target of 0.10% for the April 2024 Australian Government bond; continue to purchase government securities at the …